FTA approves $1.55 billion for Honolulu rail project

The Federal Transit Administration has notified Congress that it will sign a $1.55 billion full funding grant agreement (FFGA) with the city and county of Honolulu by the end of this year.

"Today is truly a great day for the Honolulu rail project and the residents of Oahu, as the FTA has informed Congress of its intention to sign the FFGA for $1.55 billion in federal money for the project," said Honolulu Authority for Rapid Transit Executive Director and CEO Dan Grabauskas.

The signing of the FFGA is the final step of the FTA's New Starts federal funding process for new rail systems and makes available $200 million to the Honolulu rail project for fiscal year 2012.

"This is the best holiday gift the citizens of Honolulu could possibly receive: the lean, clean, smart city of the future," Honolulu Mayor Peter Carlisle said. "And the $250 million appropriation included for Honolulu in the President's proposed FY2013 budget is the single largest amount for any New Starts project in the United States."